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Indra Nooyi to step down as the CEO of PepsiCo

There is big change coming at one of the biggest conglomerates in the world. Indra Nooyi, frequently ranked among the world’s 100 most powerful women, will be stepping down from her post as chairwoman and CEO of PepsiCo.

Born in Tamil Nadu, Nooyi is an alumnus of IIM-Calcutta after which she studied at the Yale School of Management. It was in 2006 that she was named the president and CEO of PepsiCo, and the company flourished under her leadership. Nooyi was at the helm of a number of mergers and acquisitions, including that of Tropicana and Quaker Oats. During her tenure, the company’s shares increased by 78 per cent.

PepsiCo’s board of directors unanimously elected Ramon Laguarta, 54, to succeed Indra Nooyi, 62, as chief executive officer. Laguarta, who is from Barcelona, was appointed the CEO of PepsiCo Europe in 2014. He moved to the US in 2017 and was appointed the company president. In a press release on the company’s website, Nooyi was quoted as saying, “Ramon Laguarta is exactly the right person to build on our success. He is a terrific executive with a long and proven track record of growing businesses. He has a deep understanding of the changing preferences of consumers and other critical trends unfolding around the world, and he has demonstrated that he knows how to navigate them successfully.”

Nooyi will step down on October 3, after 24 years with the company, the past 12 years as the CEO. She announced her decision to step down with a series of tweets. Take a look:

Growing up in India, I never imagined I’d have the opportunity to lead an extraordinary company like @PepsiCo. Leading this company has been the honor of my lifetime. We’ve made more meaningful impact in people’s lives than I ever dreamed possible. https://t.co/sSNfPgVK6W

I’m incredibly proud of all we've done over the past 12 years to advance the interests of our stakeholders in the communities we serve. What I admire about our global team is an incredible drive to compete – to be the best, to remain the best. https://t.co/sSNfPgVK6Wpic.twitter.com/MT1jzwl9eF

Which is why I am confident, as I step down from my role as CEO on Oct 3, that @PepsiCo is moving in the right direction. I’m confident in our leadership, and most of all, I’m confident in our team to continue to focus on our Performance with Purpose. https://t.co/sSNfPgVK6W